Lazare Kaplan to be Delisted by NYSE Amex

June 25, 2010byDaniel Ford

DTC sightholder Lazare Kaplan, the only publicly traded diamond wholesaler in the U.S., will not appeal the NYSE’s decision to delist it and expects for its stock to be quoted on the Pink Sheets Marketplace.

The company received a letter dated June 18 from NYSE Amex LLC notifying them of the exchange’s intent to strike the common stock of the company from the exchange by filing a delisting application with the Securities and Exchange Commission.

Lazare Kaplan had been given extended deadlines to file their annual report, but was unable to do so owing to a “material uncertainty.” The company sued its insurers for $640 million last month.